Crude oil settles $1.95 lower at $66.31 ...Middle East

Technically, today's decline saw crude test and briefly dip below the September 2024 low of $65.27, but momentum failed to hold, leading to a bounce into settlement.

Conversely, the bounce off the 2024 lows will have traders looking to the low from November at $66.53 as the next upside target that if broken, would give the dip buyers some confidence that the test of the 2024 low, could lead to a more significant bounce higher.

This article was written by Greg Michalowski at www.forexlive.com.

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